LDK Solar (LDK) In 8-Yr Wafer Supply Deal With Sumitomo
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LDK Solar Co., Ltd. (NYSE: LDK) signed an eight-year contract with Japan- based Sumitomo Corporation, one of the leading trading and investment houses in Japan to supply multicrystalline solar wafers to a leading manufacturer of solar cells and modules in Japan.
Under terms of the agreement, LDK Solar will deliver approximately 750 MW of multicrystalline silicon wafers to Sumitomo over an eight-year period, commencing in 2009 and extending through 2016. Sumitomo will make an advanced payment representing a portion of the contract value to LDK Solar.
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